Maui Median is $445,000 with 58 Homes Sold in NovemberDecember 6, 2010, 8:40 AM HST · Updated November 30, 10:09 AM 0 Comments
By Wendy Osher
November Home sales are down, while prices are up from the month before on Maui. The Maui Realtors Association released the latest monthly report yesterday saying sales continue at a slower pace with the Homebuyer Tax Credit ending a few months ago.
A total of 58 homes sold in November at a median price of $445,000. That’s down from the 64 homes sold in October of 2010, and from the 67 homes sold at the same time last year. The median home price was up from the $427,000 the month before, but down from the $465,000 median in November of 2009.
The greatest number of home sales for November occurred in Central Maui where 18 homes sold for a median of $406,500. There were eight homes each sold in Kihei and Makawa/Olinda/Haliimaile at a median of $405,000 and $355,250, respectively.
Condo sales, meantime, followed a similar trend, with units sold down to 66 from 73 the month before. The median condo price was $349,990, up from the $320,000 median the month before, and down from the $399,000 median a year before.
The greatest number of condo sales occurred in Kihei where 19 units sold for a median price of $250,000. There were 13 units that sold in Napili/Kahana/Honokowai for a median of $325,000. And there were a total of 12 units sold in Central Maui for a median of $267,500.
The Realtors Association of Maui notes that residential and condo inventories have declined somewhat and include many short sales and REO, bank owned, properties. According to the agency, interest rates, meantime, remain near historic record lows, which could motivate would-be buyers to purchase, if they can qualify.
*** If you enjoyed this post, you may also like our story on Maui’s Visitor Industry experiencing Double-Digit Increases in October.